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.5 million of defaulted loans due to their steep markdowns. for more we're joined by pamela brown, ph.d. student in sociology at the new school, one of the organizers of rolling to believe. explain. who is getting bailed out? >> first of all, thank you for having me on your show. rolling jubilee was an idea floating around for awhile. one of the people in the video we just saw brought the idea to a coalition we formed earlier this summer called "strike debt scrap it rose from the university debt. we started to gather and -- we started talking realize that that was the tie that binds the 99%, the intersection of wall street and our lives. >> say more how rolling jubilee happens. >> it is a very simple idea, yet no one has ever tried it before. debt collectors do this all the time. someone defaults on their dead. in other words, they cannot pay it, and the original creditor gives up on, trying to collect it. a secondary round of people involved in the debt market, which is a $60 billion market place, decides they're going to try to collect on the debt. obviously is not worth the origina
Search Results 0 to 0 of about 1